Tuesday, March 5, 2024
HomeBusinessLIC Housing Finance Increases Home Loans By 35 Basis Points, To Start...

LIC Housing Finance Increases Home Loans By 35 Basis Points, To Start From 8.65%

[ad_1]

Last Updated: December 27, 2022, 12:55 IST

90% of the property value may be financed for up to Rs 30 lakh.

90% of the property value may be financed for up to Rs 30 lakh.

According to LIC Housing’s website, the revised prime lending rate is 16.45%.

The LIC Housing Prime Lending Rate (LHPLR) has increased by 35 basis points, according to a press statement from LIC HFL, a prominent housing finance company in India. The benchmark rate or LHPLR is used to determine how much loans from LIC HFL will cost. The new home loan interest rates will now begin at 8.65%. According to LIC Housing’s website, the LHPLR or revised prime lending rate is 16.45%.

The LIC Housing website states that for salaried and professional borrowers with credit scores of at least 800 and loans up to Rs 15 crore, house loan interest rates begin at 8.30%. Interest rates for salaried and professional borrowers with credit scores in the range of 750 to 799 will be 8.40% for up to Rs 5 crores, and 8.60% for amounts greater than Rs 5 crores and up to Rs 15 crores. Interest rates are 8.70% up to Rs 50 lakhs, 8.90% for amounts over Rs 50 lakhs, and up to Rs 2 crore for CIBIL Scores of 700 to 749.

Maximum loan amount and term of repayment:

The following is key information on the loan amount and repayment duration taken from the website.

90% of the property value may be financed for up to Rs 30 lakh.

For loans bigger than Rs 30 lakh and up to Rs 75 lakh, 80% of the property value is required. For loans beyond Rs 75 lakhs, 75% of the property value is required.

The maximum payback duration for salaried individuals is 30 years, while for a self-employed person is up to 25 years.

Home loan options provided by LIC Home Finance Loan

Home loan for locals

Mortgage for NRI

A plot loan

Loans for home improvements

Loans for home renovation

Add-on loan

Loans for balance transfers

Read all the Latest Business News here

[ad_2]

Source link

RELATED ARTICLES

Most Popular

Recent Comments